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Dec 12, 2012
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that was monty's work. and in the meantime, our debt went up. >> reporter: and by the way, the five-star movement is number two in the polls. but he's not really a politician. he is a comedian. not kidding. he actually is a comedian. we also managed to catch up with the politician who's more serious about becoming the next prime minister, who has 30% of the votes in the latest polls, his name is mr. bercani. you know him. we'll show you that in the next hour. now it is time for your "global markets report." >>> all right. thank you very much. we are slightly weighted to the upside here. the european equity grind-up rally continues. advances outpaced decliners about 5-4. the dow jones 600, the ftse flat up three points. the dax up 52-week highs. the highest for nearly five years, since january 14, 2008. now xetra dax up. ftse up. and cac 40 up, highest level since july, 2011. up .5%. yields coming down during the session yesterday. employment numbers out of the u.k. in around 15 minutes or so. we'll keep our
that was monty's work. and in the meantime, our debt went up. >> reporter: and by the way, the five-star movement is number two in the polls. but he's not really a politician. he is a comedian. not kidding. he actually is a comedian. we also managed to catch up with the politician who's more serious about becoming the next prime minister, who has 30% of the votes in the latest polls, his name is mr. bercani. you know him. we'll show you that in the next hour. now it is time for your...
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Dec 10, 2012
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that whoos them by exceeding to some sort of immigration reform, but they don't want to go the full monty. you see this even among republican elites. in the same politico article you have karl rove and others quoted saying we need to do something on immigration. we should do partial measures. we shouldn't go all the way to amnesty, and i think that they're reacting to a lot of blowback that they've gotten from their base as they've talked about the need to go out and make immigration reform something that they just set off the table. >> that quote is factually wrong. what this person thinks is if we have immigration reform, then you'll have more latinos who can vote. maybe you're changing the time frame, but the fact is because of the 14th amendment, anyone who is born in the united states legally or illegally is a legal citizen. you can vote. you can't stop these people from voting. they're just wrong. >> that's 50,000 hispanics turn 18 years old every month, period. that should be the only thing that is in front of the gop right now. all of this hem and hawing about what we're going to
that whoos them by exceeding to some sort of immigration reform, but they don't want to go the full monty. you see this even among republican elites. in the same politico article you have karl rove and others quoted saying we need to do something on immigration. we should do partial measures. we shouldn't go all the way to amnesty, and i think that they're reacting to a lot of blowback that they've gotten from their base as they've talked about the need to go out and make immigration reform...
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Dec 12, 2012
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. >> i think the market is playing a game of three-card monty right now. you have the fed on one side, fiscal cliff in the middle, and i think earnings is actually where the coin is. that's where the prize is. i think the market is vulnerable because it reminds me of 2007. earnings struggled the second half of the year. against that, you have macro easing from the fed. going to the december 2007 meeting, you actually had them cut rates. and after that, the market had a real tough time. >> jim, what do you think about the three-card monty theory? >> i don't really think that earnings is the driving force. i think we've produced much of the earnings for the cycle. we're at new all time highs. the i think earnings will rise a little more. the big key driving force is rising ornaments. over 10% of the gain is because the earnings multiple goes to 13 1/2 now. that's 10% of the gain this year. and rising pes is all about rising confidence. i think, if we agree this is more of a sustainable recovery, then confidence will either continue to rise, and so will valua
. >> i think the market is playing a game of three-card monty right now. you have the fed on one side, fiscal cliff in the middle, and i think earnings is actually where the coin is. that's where the prize is. i think the market is vulnerable because it reminds me of 2007. earnings struggled the second half of the year. against that, you have macro easing from the fed. going to the december 2007 meeting, you actually had them cut rates. and after that, the market had a real tough time....
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Dec 30, 2012
12/12
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i do't know wh is running pr for these people, it might be "monty python," it's bad timing and bad pr. >> brenda: and these people say they need a better, livable wage. yeah, what's wrong with workers getting a raise and wages going up overall in the economy? that's going to give people more confidence. >> brenda: right. >> it's a good, a little wage inflation would be good for this economy. brenda: jonas, are we going to see inflation after different sort? are we going to see inflation to the produs and to the owners too? >> by t vchlimport-- there will be crease ins prices. in this case, the union screwed up in the sense they should have done this during the holiday shipping season and kind of missed that strike opportunity like they had a few years ago and now the shipping volumes are lower so we can kind of handle it, tax increases are going to happen and it will drop off. unions have no power in in and it will fizzle out because of that. >> brenda: what do you think, gary b, a bigger threat because that have? >> no, i think it's a minimal threat. i think it's the right tactic, it
i do't know wh is running pr for these people, it might be "monty python," it's bad timing and bad pr. >> brenda: and these people say they need a better, livable wage. yeah, what's wrong with workers getting a raise and wages going up overall in the economy? that's going to give people more confidence. >> brenda: right. >> it's a good, a little wage inflation would be good for this economy. brenda: jonas, are we going to see inflation after different sort? are we...
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Dec 10, 2012
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>> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and clo
>> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all...
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Dec 7, 2012
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support has been withdrawn for the group run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the situation is like within that central right next. the pdl has made it clear that there is a serious disagreement within the party. they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as the situation
support has been withdrawn for the group run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the...
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Dec 31, 2012
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>> right now, if we did the full fiscal cliff, the full fiscal cliff monty, perhaps is the best way it put it, we get rid of more growth in the economy than in all of 2011. it would be a negative number, essentially, mandy. like 4.2% of gdp. we grew up 4% of 2011. a negative number. take away from that all things being equal. depending on what the private sector did. a negative for the economy. every dollar they don't do on the fiscal cliff, that's a dollar that does not come out of the economy. but i think it is probably reason to consider. talking about what brian was talking about at the top of the show here. 1%, maybe 1.5% drag on growth of anything decided from the fiscal cliff anyway. >> and it depends on what you buy. i hear what you're saying with, steve and it is important to dive in. when you get a dollar you probably spend more than the dollar, right? they have shown that. that is the greatest multiplier. let's be clear on what that is on. necessities, food, clothing, which is needed. and on taxes, and there is not a lot of sympathy, but if you are a boat maker, high-end hom
>> right now, if we did the full fiscal cliff, the full fiscal cliff monty, perhaps is the best way it put it, we get rid of more growth in the economy than in all of 2011. it would be a negative number, essentially, mandy. like 4.2% of gdp. we grew up 4% of 2011. a negative number. take away from that all things being equal. depending on what the private sector did. a negative for the economy. every dollar they don't do on the fiscal cliff, that's a dollar that does not come out of the...
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Dec 17, 2012
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a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time he's also made noises that suggest that he wouldn't run if monti runs. that's not set in stone. we're going to see what happens there. what berlusconi was definitive about, he's going to marry his 27-year-old girlfriend he says. political commentators in italy have cheaply suggested that he's doing this to look more like a family man ahead of his run in february. he is 76 years old. of course. and his divorce from his second wife is not final yet. that's been very bitter. remember they wrote letters to the editor to each other in the paper, as the process of their separation was occurring in their divorce. addressing the parliament is also now a banking supervisor and also saying that the medium term outlook for the european economy looks to be challenging. in the category of the sky is blue. carl? thank you michelle back at
a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time he's also made noises that suggest that he wouldn't run if monti runs. that's not set in stone. we're going to see what happens there. what berlusconi was definitive about, he's going to marry his 27-year-old girlfriend he says. political...
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Dec 11, 2012
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it said send monti to the beach. it doesn't take long to get -- how long is the average government in italy? >> i don't know. is kelly evans still with us? >> she's gone. that's about as long as a -- her report is about as long as the average government. but they have a figure. >> let's head to eric fisher on today's weather forecast. maybe he has the answer. >> eric. >> unfortunately not, guys. i know the weather changes quickly, and that's my business here. i don't deal with the italian government too much. but what we're watching for today too much in items of changes, it's colder outside. as soon as you walk out the door, you notice a big change in that cold front. this time yesterday in cincinnati, 17 degrees colder. 30 degrees colder in jackson. still showers around boston and new york city. they'll be out of the way fairly quickly. our main story is florida. miami, naples, picking up showers and thunderstorms. a half dozen tornados across the south yesterday. we'll watch tampa, daytona be h beach, ft. myers. t
it said send monti to the beach. it doesn't take long to get -- how long is the average government in italy? >> i don't know. is kelly evans still with us? >> she's gone. that's about as long as a -- her report is about as long as the average government. but they have a figure. >> let's head to eric fisher on today's weather forecast. maybe he has the answer. >> eric. >> unfortunately not, guys. i know the weather changes quickly, and that's my business here. i...
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monty ball and melvin gordon rushed for 200 yards against the cornhuskers. he is the career leader in touchdowns with 81. this will be wisconsin's third straight trip to pasadena, but the badgers have lost the last two years to tcu and oregon. meanwhile, san jose state plays bowling green in the military bowl on december 27th in washington, d.c. for the first time ever the spartans are ranked 24th at the at and bcs polls. he is a big reason for the team's success. he leads the nation in passing accuracy and is tied for eight with 31 touchdowns. later in the show stanford basketball and former cardinal quarterback andrew luck pulls out a victory with no time on the clock. this abc7 sports report is brought to you by river rock casino. >> appreciate it. >>> coming up next on the news at 11:00, the russian river was one of the areas of concern. why residents are breathing a sigh of relief. and lots of water and lots of snow. we will show you what they are facing in th >>> good evening. i'm ama dates. today's storm left its mark across the area. it caused a road
monty ball and melvin gordon rushed for 200 yards against the cornhuskers. he is the career leader in touchdowns with 81. this will be wisconsin's third straight trip to pasadena, but the badgers have lost the last two years to tcu and oregon. meanwhile, san jose state plays bowling green in the military bowl on december 27th in washington, d.c. for the first time ever the spartans are ranked 24th at the at and bcs polls. he is a big reason for the team's success. he leads the nation in passing...
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monty ball and melvin gordon rushed for 200 yards against the cornhuskers. he is the career leader in touchdowns with 81. this will be wisconsin's third straight trip to pasadena, but the badgers have lost the last two years to tcu and oregon. meanwhile, san jose state plays bowling green in the military bowl on december 27th in washington, d.c. for the first time ever the spartans are ranked 24th at the at and bcs polls. he is a big reason for the team's success. he leads the nation in passing accuracy and is tied for eight with 31 touchdowns. later in the show stanford basketball and former cardinal quarterback andrew luck pulls out a victory with no time on the clock. this abc7 sports report is brought to you by river rock casino. >> appreciate it. >>> coming up next on the news at 11:00, the russian river was one of the areas of concern. why residents are breathing a sigh of relief. and lots of water and lots of snow. we will show you what they are facing in [ female announcer ] now get high speed internet at home on our newly expanded advanced digital n
monty ball and melvin gordon rushed for 200 yards against the cornhuskers. he is the career leader in touchdowns with 81. this will be wisconsin's third straight trip to pasadena, but the badgers have lost the last two years to tcu and oregon. meanwhile, san jose state plays bowling green in the military bowl on december 27th in washington, d.c. for the first time ever the spartans are ranked 24th at the at and bcs polls. he is a big reason for the team's success. he leads the nation in passing...
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. >> meanwhile, european markets are down and because the italian prime minister mario monti m a surprise. is going to resign. and silvio berlusconi wants to replace him. europe is appalled. and people blaming the recession for not having more children. 64 births for one thousand women of child bearing age. half of the peak of the baby boom in the 1950's. our next guest has six children, counts them. and what's that-- >> and naham segal. that works. >> have i got that word? >> and light tte candles. >> if you light them i will come. >> you have six children. >> as do you. >> leave me out of this. >> and others people say they can't afford it you're saying it doesn't matter if you can afford them or not. >> if the price tag of having a child scares you the most, you haven't done the right gut test. stuart: so, go ahead and have the children whether you can afford them or not. >> having children is the investment in the future. if we don't have children now and understanding in the short-term there are obviously economic hardships going on, it is classic then in an economic down turn, peopl
. >> meanwhile, european markets are down and because the italian prime minister mario monti m a surprise. is going to resign. and silvio berlusconi wants to replace him. europe is appalled. and people blaming the recession for not having more children. 64 births for one thousand women of child bearing age. half of the peak of the baby boom in the 1950's. our next guest has six children, counts them. and what's that-- >> and naham segal. that works. >> have i got that word?...
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we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want to draw your attention -- use guys were talking about unions. here's a union story that tells something about the rebalancing in the eurozone. potentially germany. we know with the xetera dax up .3%. and almost 30% this year. investors see if the euro project hangs together, it's going to mean renation in germany. that is some wage inflation, some price inflation. the public sector union verde, powerful union, along w
we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong...
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Dec 3, 2012
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europeans were very amenable to my point of view on this, which is you think back to a year ago when monti gets named technocrat tick prime minister of italy, he comes out with a package two thirds tax hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's
europeans were very amenable to my point of view on this, which is you think back to a year ago when monti gets named technocrat tick prime minister of italy, he comes out with a package two thirds tax hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25...
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Dec 9, 2012
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. >> premiere monti said he plans to resign following the sudden loss and support from the party of berlusconi paving the way for early elections a year after he pulled the country back from the brink of disaster. >> a massive search-and-rescue effort in the philippines with 900 fishermen missing after a typhoon struck. >> new fallout to the growing political conflict in egypt. egyptians in egypt are flooding into the united states many live ing egypt because of the crisis and for their safety. and now, live in los angeles. dominic, what sort of scale is this wave of asylum seekers? >> napolitano at homeland security says we are seeing a doubling of seekers since the muslim brotherhood took power and 100,000 egyptians have turned up according to unofficial figures. it is mostly the coptic christians and we understand, as well, that new constitution does so little to protect minority rights including christians there and this is an attempt by the islamist to wipe out what remains, really, of the christian community in cairo. take a listen. >> christianity is in the middle coast where the cultur
. >> premiere monti said he plans to resign following the sudden loss and support from the party of berlusconi paving the way for early elections a year after he pulled the country back from the brink of disaster. >> a massive search-and-rescue effort in the philippines with 900 fishermen missing after a typhoon struck. >> new fallout to the growing political conflict in egypt. egyptians in egypt are flooding into the united states many live ing egypt because of the crisis and...
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Dec 4, 2012
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you're looking at monty, ginny and porter. >> brian: real? >> steve: yes. those are dogs that are learning how to drive. what they're trying to do is changing the public's per suspicion of the intelligence of rescue dog, showing that you can teach old dogs new tricks. come get a rescue dog. who knows? maybe they'll drive you around. >> brian: i mean, your paws are warn out, you want an alternative? this is it. >> gretchen: how about all the car pooling for moms and dads? got to get your kids to socker and piano. who know as soon as maybe in the coming future the dog can drive. >> steve: one of the extraordinary things, this is taking place in new zealand. they're giving these dogs these driving lessons. they're actually going to have their official driver's test live on television. who wouldn't watch that? >> brian: these are rescue dogs that could pay the ultimate price if people don't adopt them. people are saying look, not only are they great dogs, but how intelligent they are. >> gretchen: maybe that dog could teach me how to parallel park. >> brian: ho
you're looking at monty, ginny and porter. >> brian: real? >> steve: yes. those are dogs that are learning how to drive. what they're trying to do is changing the public's per suspicion of the intelligence of rescue dog, showing that you can teach old dogs new tricks. come get a rescue dog. who knows? maybe they'll drive you around. >> brian: i mean, your paws are warn out, you want an alternative? this is it. >> gretchen: how about all the car pooling for moms and dads?...
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Dec 27, 2012
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in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and one is a bank here
in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the...
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Dec 7, 2012
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he's less monty burns from the simpsons where he's trying to extract and exact political pain on the republicans. >> i think it's a combination of arrogance. he may be the most arrogant person who ever sat in the oval office. a combination of that and inexperience and if you put those two combinations together, you get someone who is so confident in his own point of view, his own position that he can't recognize any validity in the other person's point of view. >> steve: we've talked to a number of people who say, you know, the president could be overplaying his hands. he thinks he's got all the cards. the republicans could all stand together and jump off the cliff with him and that essentially is going to screw am his legacy for the next four years. >> well, both ronald reagan and bill clinton had strong legacies because they had strong growth in the second terms of their presidency. if barak obama has growth not much more than 2%, his legacy will be ashes. it's surprising to me that he is incapable of recognizing that and trying to put something in place that will bring the economy
he's less monty burns from the simpsons where he's trying to extract and exact political pain on the republicans. >> i think it's a combination of arrogance. he may be the most arrogant person who ever sat in the oval office. a combination of that and inexperience and if you put those two combinations together, you get someone who is so confident in his own point of view, his own position that he can't recognize any validity in the other person's point of view. >> steve: we've...
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Dec 12, 2012
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meanwhile, also worth mentioning that, after the sell-off we got on italian debt, where mario monti said he would resign over the weekend, today italy successfully went through an auction at the one-year level of debt. and you can see where people have viewed monday's sell-off as a huge opportunity. so the yields are heading down on the ten-year. just before i give you back to carl, i wanted to hand you a piece of research from goldman sachs. they have looked at what the eurozone crisis cost america in terms of growth. at the beginning of the year, they suggested they could knock 1% off potential gdp. and now they say they knocked three-quarters of a percent off growth here. half a percent was due to a general tightening of financial conditions. it's a very complicated set of calculations to get to that, but they have. half a percent of american growth is a result of weaker exports to europe. and the final thing that i think is very interesting. they say there's been a negligible impact on america due to what banks might be doing here. in other words, the european banks in new york, in b
meanwhile, also worth mentioning that, after the sell-off we got on italian debt, where mario monti said he would resign over the weekend, today italy successfully went through an auction at the one-year level of debt. and you can see where people have viewed monday's sell-off as a huge opportunity. so the yields are heading down on the ten-year. just before i give you back to carl, i wanted to hand you a piece of research from goldman sachs. they have looked at what the eurozone crisis cost...
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Dec 11, 2012
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remember yesterday and all that concern we had about where italy might go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadc
remember yesterday and all that concern we had about where italy might go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and...